USCI vs. HGER
USCI (United States Commodity Index Fund) and HGER (Harbor Commodity All-Weather Strategy ETF) are both Commodities funds - USCI tracks the SummerHaven Dynamic Commodity Index Total Return while HGER tracks the Quantix Commodity Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, USCI returned 20.39%/yr vs 18.60%/yr for HGER. Their correlation of 0.83 suggests significant overlap in exposure. USCI charges 1.03%/yr vs 0.68%/yr for HGER.
Performance
USCI vs. HGER - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with USCI having a 23.68% return and HGER slightly lower at 23.17%.
USCI
- 1D
- -0.50%
- 1M
- -0.05%
- 6M
- 22.70%
- YTD
- 23.68%
- 1Y
- 28.10%
- 3Y*
- 20.39%
- 5Y*
- 19.25%
- 10Y*
- 8.41%
HGER
- 1D
- -0.84%
- 1M
- 0.86%
- 6M
- 20.50%
- YTD
- 23.17%
- 1Y
- 31.96%
- 3Y*
- 18.60%
- 5Y*
- —
- 10Y*
- —
USCI vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
USCI United States Commodity Index Fund | 23.68% | 17.63% | 17.24% | -0.00% | 16.81% |
HGER Harbor Commodity All-Weather Strategy ETF | 23.17% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between USCI and HGER is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.83 |
The correlation between USCI and HGER has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
USCI vs. HGER — Risk / Return Rank
USCI
HGER
USCI vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and Harbor Commodity All-Weather Strategy ETF (HGER). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| USCI | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.39 | +0.28 |
| Martin ratioReturn relative to average drawdown | 8.50 | 8.73 | -0.23 |
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Drawdowns
USCI vs. HGER - Drawdown Comparison
The maximum USCI drawdown since its inception was -66.41%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for USCI and HGER.
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Drawdown Indicators
| USCI | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.41% | -23.31% | -43.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -14.04% | +2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -12.01% | -14.04% | +2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.82% | — | — |
Current DrawdownCurrent decline from peak | -6.52% | -8.66% | +2.14% |
Average DrawdownAverage peak-to-trough decline | -29.37% | -7.71% | -21.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.83% | -0.32% |
Volatility
USCI vs. HGER - Volatility Comparison
The current volatility for United States Commodity Index Fund (USCI) is 4.94%, while Harbor Commodity All-Weather Strategy ETF (HGER) has a volatility of 5.75%. This indicates that USCI experiences smaller price fluctuations and is considered to be less risky than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USCI | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 5.75% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 15.35% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 17.37% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 17.67% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 17.67% | -1.79% |
USCI vs. HGER - Expense Ratio Comparison
USCI has a 1.03% expense ratio, which is higher than HGER's 0.68% expense ratio.
Dividends
USCI vs. HGER - Dividend Comparison
USCI has not paid dividends to shareholders, while HGER's dividend yield for the trailing twelve months is around 5.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.75% | 7.09% | 3.28% | 7.24% | 0.64% |
USCI United States Commodity Index Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USCI and HGER have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HGER has higher volatility (5.75%) compared to USCI (4.94%). In terms of maximum drawdown, USCI dropped -66.41% vs HGER's -23.31%.
On 3-year performance, USCI leads with 20.39% vs 18.60% for HGER. On fees, HGER is cheaper at 0.68% per year. On volatility, USCI has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USCI has performed better with a 20.39% return vs 18.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 1.03% for USCI.
HGER has the higher dividend yield at 5.75%, compared with 0.00% for USCI.
USCI tracks SummerHaven Dynamic Commodity Index Total Return, while HGER tracks Quantix Commodity Index - Benchmark TR Net. They also come from different issuers: United States Commodity Funds and Harbor. Their fees differ too: 1.03% for USCI and 0.68% for HGER.
HGER currently has the higher Sharpe Ratio (1.93 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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